5Imposition of tax

5 Imposition of tax

(1) A tax is imposed on the grant of an approval. (2) For an approval that is granted for a period of 2 years, the tax is $2,000. (3) For an approval that is granted for a period of less than 2 years, the tax is calculated using the formula: Image unavailable in extracted text where:

approval days is the number of days in the period for which the approval is granted.

Note: Approval Principles made under section 23DNBA of the Health Insurance Act 1973 may prescribe a number of matters, including the period for which an approval may be granted.

(4) The tax is payable by the approved pathology authority that applied for the approval. (5) The tax is payable before the grant of the approval.